John Whelan: Rising costs set to further challenge Irish exporters this year

Rising freight and fuel prices are likely to remain a significant concern for exporters during 2022.

We are sitting at the crossroads of three major trends that will drive costs in 2022 — rising freight rates, rolling China lockdowns, and rampant fuel prices — and may derail Ireland’s manufacturing export sector which has been the bedrock of the economy throughout the pandemic.

Prices rose sharply last year for cars, fuel, food, and furniture as consumers responded to Covid lockdown with a spending splurge, aided by vast infusions of government financial and wage supports.